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ABA: The American Bankers Association
Compliance News

ABA Updates Enforcement Action Database

ABA recently updated the enforcement database to include seven enforcement actions. The FDIC and OCC entered consent agreements with two banks for BSA/AML violations. The FDIC and FRB both issued civil money penalties against two banks totaling $26,250 for flood violations. The CFPB issued a $7 civil money penalty against one company for UDAAP violations and prohibited the company from offering or collecting on loans to consumers in certain states. DOJ entered a $3 billion settlement agreement with a bank to resolve potential criminal and civil liability stemming from a sales practices that resulted in the establishment of unauthorized accounts between 2002 and 2016. Finally, the FDIC entered a consent order with one bank for violations and weaknesses in the area of consumer protection and compliance. Contact Teshale Smith for more information.